Coldstream Merges with Wealth and Accounting Firms

Coldstream Wealth Management, a $6.5 billion registered investment advisor, has merged with Seidman Capital Group (SCG), a wealth management firm, and Hersman Serles Almond, LLC (HSA), an accounting and consulting services firm, to expand its Pacific Northwest footprint.

Victoria Serles, managing partner of Hersman, formed the two related enterprises in Kirkland, WA. Previously, she was the partner in charge of BDO USA’s private client wealth management division. SCG also has Principals Shane Payette and Brittany Gabelein.

Financial terms of the deal were not made available.

SCG’s five advisors and three support staff oversee more than $250 million in assets under management. The firm, founded in 2004, provides financial, investment and insurance planning services.

HSA, founded in 1980, consists of 17 financial professionals, including six partners. In addition to handling income taxes, HSA provides a wide array of tax-efficient services, such as trust and estate planning for high-net-worth households as well as succession planning and valuations for businesses.

“The firm understands how we operate and the value-add that sophisticated tax services can bring to wealth management clients,” said Serles.

Bellevue, WA-based Coldstream has been building its business reach in the Pacific northwest region for some time. In June 2022, the firm announced a merger with LWM Wealth Management, a Kenai, AK-based firm with approximately $170 million in assets under management.

In September 2021, Coldstream announced a merger with Rosenbaum Financial, a Portland, OR-based firm with approximately $463 million in assets under management.